2020 In Review: 22 New Investments, 14 States, 3 Countries, and 50% female or minority founders

Recapping Connetic activity and investments in 2020

2020 was quite a year. It affected us all and has impacted the way we live and do business for the foreseeable future. When looking just at Connetic’s business, 2020 was a net positive for us as our model of being a completely digital VC allowed us to not miss a beat and evaluate more deals than usual. This is a trend that we hope continues as more and more relationships and deals will be done virtually.

Last year, we saw nearly 2,500 companies and had 1111 formal applications (up 54% from 2019) through Wendal (our proprietary AI platform) since launching in April of last year. Wendal acts as our initial analyst and automatically feeds us companies that fit our model and we are likely to write checks to.

Out of the 2,500 companies, we ended up investing in 22 companies (0.9%). As usual, we have no mandate on geography or diversity. Depsite this, we had a very broad geographical dispersion of these companies. The 22 companies came from 14 different states and 3 different countries. We also made 8 follow-on investments into existing portfolio companies.